Lincoln chemicals became involved in investigations by the U.S. Protection Agency in regard to damages connected to waste disposal sites.
OK let's say that the alleged damage caused by Lincoln was before the fiscal year ended, the investigation by EPA was after the fiscal year but before the financial statements are issues, and both the assessment of penalties and ultimate settlement were after the financial statements were issued. Why do we account for this with only a disclosure note?
Can someone who has a good understanding of this material please explain in a way I can understand..thank you so much..
OK let's say that the alleged damage caused by Lincoln was before the fiscal year ended, the investigation by EPA was after the fiscal year but before the financial statements are issues, and both the assessment of penalties and ultimate settlement were after the financial statements were issued. Why do we account for this with only a disclosure note?
Can someone who has a good understanding of this material please explain in a way I can understand..thank you so much..